Alnylam Pharmaceuticals, Inc.

Alnylam Pharmaceuticals, Inc. (ALNY) reported strong FY 2025 results with total revenues of $3.71B, driving net income of $313.7M and positive operating income of $501.6M. This marks a significant profitability milestone for the RNAi therapeutics leader, fueled by robust product sales and collaboration revenues amid high R&D investment of $1.32B. Operating expenses totaled $3.21B, including COGS of $677.2M, SG&A of $1.21B, reflecting scaling commercial operations. Balance sheet strengthened with total assets at $4.97B, current assets $4.05B including $1.66B cash equivalents and $777.6M receivables. Stockholders' equity reached $789.2M despite $6.70B accumulated deficit. Cash flow from operations was $524.1M, supporting $436.3M investing inflows and net financing outflow of $305.2M from debt activities including $645.7M new convertible notes issuance offset by $1.15B prior notes repayment. Ending cash position $1.66B signals liquidity for pipeline advancement. Comprehensive income was $328.2M with EPS $2 basic and diluted. No prior year figures disclosed in filing.

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